Parisi Gray Wealth Management Acquires 602 Shares of Costco Wholesale Co. (NASDAQ:COST)

Parisi Gray Wealth Management lifted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 10.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,554 shares of the retailer’s stock after buying an additional 602 shares during the quarter. Costco Wholesale comprises 2.0% of Parisi Gray Wealth Management’s portfolio, making the stock its 14th biggest holding. Parisi Gray Wealth Management’s holdings in Costco Wholesale were worth $6,199,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Investment Management Corp VA ADV bought a new position in shares of Costco Wholesale in the fourth quarter valued at about $25,000. Synergy Investment Management LLC bought a new position in Costco Wholesale in the fourth quarter valued at about $31,000. NewSquare Capital LLC boosted its holdings in Costco Wholesale by 250.0% in the fourth quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock valued at $32,000 after acquiring an additional 25 shares during the last quarter. Collier Financial bought a new position in Costco Wholesale in the fourth quarter valued at about $35,000. Finally, Clear Investment Research LLC boosted its holdings in Costco Wholesale by 22.2% in the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer’s stock valued at $51,000 after acquiring an additional 10 shares during the last quarter. 68.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday. Telsey Advisory Group reiterated an “outperform” rating and issued a $1,100.00 price target on shares of Costco Wholesale in a report on Tuesday, June 3rd. Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a report on Thursday, May 29th. Cowen reiterated a “buy” rating on shares of Costco Wholesale in a report on Friday, March 7th. Finally, Robert W. Baird raised their price target on Costco Wholesale from $1,075.00 to $1,125.00 and gave the company an “outperform” rating in a report on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, Costco Wholesale has a consensus rating of “Moderate Buy” and an average price target of $1,035.32.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Claudine Adamo sold 900 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $922.56, for a total transaction of $830,304.00. Following the transaction, the executive vice president now owns 6,987 shares of the company’s stock, valued at $6,445,926.72. The trade was a 11.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Pierre Riel sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the transaction, the executive vice president now directly owns 8,210 shares in the company, valued at $8,326,171.50. This trade represents a 19.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,000 shares of company stock valued at $7,816,895 in the last 90 days. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Trading Down 0.9%

NASDAQ COST opened at $1,006.18 on Tuesday. The stock has a market capitalization of $446.42 billion, a price-to-earnings ratio of 59.08, a PEG ratio of 6.15 and a beta of 1.00. The stock’s 50 day moving average price is $994.50 and its two-hundred day moving average price is $980.11. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. Costco Wholesale Co. has a 52 week low of $793.00 and a 52 week high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating the consensus estimate of $4.24 by $0.04. The firm had revenue of $63.21 billion for the quarter, compared to analysts’ expectations of $62.93 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.78 EPS. As a group, analysts anticipate that Costco Wholesale Co. will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were given a dividend of $1.30 per share. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.20 annualized dividend and a dividend yield of 0.52%. Costco Wholesale’s payout ratio is 29.50%.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.